Fazle Kabir appointed Governor of Bangladesh Bank

Shilpika Srivastava

Fazle Kabir on 15 March 2016 was appointed the 11th Governor of the Bangladesh Bank, the central bank of Bangladesh.

Kabir replaced Atiur Rahman, who had resigned after taking moral responsibility over electronic theft of 101 million US dollars from the central bank's account with the New York Federal Reserve Bank.

Who is Fazle Kabir?

• A Bangladeshi economist and banker, Fazle Kabir served as the chairman of state-owned Sonali Bank prior to his appointment in the Bangladesh Bank.

• He has also served as a Director of state-owned Janata Bank.

• A graduate from University of Chittagong in economics, he started his career in 1980 with Bangladesh Railway as an Assistant Traffic Superintendent.

• He was appointed as a senior secretary to the Ministry of Finance in 2012.

Background

Between 4 February and 5 February 2016, unknown cyber criminals hacked into the computer systems of Bangladesh Bank and stole around 101 million US dollars from its account at the Reserve Bank of New York between. The money was then allegedly transferred electronically to casinos in the Philippines.

The hackers had reportedly bombarded the New York Fed with 35 separate requests to withdraw money.

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